Industrial Automation Market Overview
The industrial automation market is set to grow at a CAGR of 9.35% during the forecast period 2018 to 2023. As per the market research report, the market will reach a high value by the end of 2023. The market growth will be driven by robust growth in the manufacturing sector. Based on the research report, favorable government policies will accelerate growth in the market till 2023. Industrial Automation empowers risk mitigation, resiliency, agility, responsiveness, and faster time to market. It increases capacity utilization, which drives capital investment in the newest automation technologies. The new systems increase competitiveness and enable the recruitment of a smarter, tech-oriented workforce, thus enabling more automation. Industries are increasingly moving towards automation of manufacturing and related processes.
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Factors such as favorable government policies will be major growth factors during the forecast period and increased focus on economic diversification is also said to be supporting the market globally, however, the growth projected for the forecast period could be affected by high installation costs which could negatively affect activities taking place across the market. Slow automation processes uptake is another challenge the market could face till 2023.
Market Segmentation
The industrial automation market is segregated into different market segments based on type, technology, and end-user. For a comprehensive analysis of the market, the type, technology, and end-user segments are further split into smaller segments. The type segment is categorized into fixed automation and programmable automation. Furthermore, based on technology, the global market is also segmented into SCADA, PAC, PLC, DCS, HMI. Based on the market segmentation analysis, the report covers market forecasts. On the basis of end-user, the global market is split into sub segments including aerospace & defense, automotive, electronics, machine manufacturing, oil & gas, and pharmaceuticals.
The shift from manual assistance to automation will support the market growth from 2018 to 2023. As per the market research report, the global market for industrial automation is anticipated to grow at a healthy rate across all the type, technology, and end-user segments. However, the presence of active threats such as dynamic policies and regulations could hamper the market growth. Business activities across automation technology have also been examined and studied by automation technology industry’s experienced analysts. The industrial automation market research report covers findings with predictions and forecasts till 2023.
Regional Overview
The industrial automation market, with its segments, is present in different parts of the world. Automation technology based regional markets are also covered in the market research report. The regional markets are Asia-Pacific, Europe, North America, the Middle East and Africa and the rest of the world. The lack of skilled human resource is anticipated to be a major factor for growth across the automation technology space during the forecast period. The regional market in North America is classified as the United States, Mexico, Canada, and others. The automation technology sector based regional markets in Europe are split into Italy, Germany, France, and the United Kingdom. In the Asia Pacific region, the market is segmented into China, India, Japan, and others. Automation technology based businesses in these regional markets are anticipated to grow due to technological advances during the forecast period 2018 to 2023. Although the market’s growth could be affected by high deployment and maintenance costs. The analysts have also segmented markets of the Middle East, Africa, and the rest of the world.
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Competitive Landscape
Automation technology based organizations are profiled in the market research report. The industrial automation market along with companies and segments have been studied. The analysis of automation technology based business is also done to identify key challenges and strengths of these companies. The global industrial automation market research report covers SWOT analysis, Porter’s Five Force analysis of major automation technology related organizations. The strategy and other key details of these companies for the forecast period 2018 to 2023 are covered in the report. The lack of a developed infrastructure is anticipated to support the market growth as the market is set to grow at a CAGR of 9.35% and reach a high value by 2023.
Industry News
Accenture has decided to buy Pollux, a Joinville, Brazil-based manufacturer of industrial robotics and automation solutions. Accenture's capabilities will be improved as a result of the purchase with clients in the consumer products, healthcare, and automobile sectors looking to enhance the efficiency, protection, and profitability of their manufacturers, facilities, and supply chains. Pollux offers packaging and distribution process optimization solutions. The business creates completely operating assembly lines that contain robots and other hardware, as well as the software that manages them, by designing, engineering, and deploying them. In addition to visual analytics inspection applications, Pollux also provides autonomous handheld robots as well as robots as a service.
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